Eleven African nations will benefit from the $5 billion World Bank investment into the promotion of livelihoods across these nations.
The plan of the global financial institution was disclosed by its President David Malpass in a statement at the One Planet Summit.
Malpass said that the investment was crucial as countries were struggling to pick up after the economic doldrums experienced.
He said that the investment would assist in improving livelihoods while dealing with the impact of “biodiversity loss and climate change” on the economies of the countries.
READ ALSO: Nigeria’s Economic Growth To Rebound At 1.1% – World Bank
“This investment, which comes at a crucial time, will help improve livelihoods as countries recover from COVID-19, while also dealing with the impact of both biodiversity loss and climate change on their people and economies,” he said.
Malpass stated that the fund would go into agriculture, the restoration of the lost landscape, better landscape, creation of employment, among many others.
He revealed that the investment was a collaboration between the World Bank and the Great Green Wall initiative.
“This builds on World Bank landscape investments in these countries over the past eight years that reached more than 19 million people and placed 1.6 million hectares under sustainable land management.”
